Vest Financial LLC Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vest Financial LLC grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,595 shares of the transportation company’s stock after purchasing an additional 14,219 shares during the period. Vest Financial LLC owned approximately 0.06% of Old Dominion Freight Line worth $27,729,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ODFL. Los Angeles Capital Management LLC raised its stake in shares of Old Dominion Freight Line by 97.9% during the first quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 1,030 shares during the period. Perpetual Ltd grew its position in shares of Old Dominion Freight Line by 100.0% during the first quarter. Perpetual Ltd now owns 1,680 shares of the transportation company’s stock worth $368,000 after buying an additional 840 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after buying an additional 47 shares in the last quarter. Douglas Lane & Associates LLC grew its position in shares of Old Dominion Freight Line by 85.4% during the first quarter. Douglas Lane & Associates LLC now owns 964 shares of the transportation company’s stock worth $211,000 after buying an additional 444 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Old Dominion Freight Line by 97.6% during the first quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock worth $750,000 after buying an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity

In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of recent analyst reports. Susquehanna raised their price target on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Stephens reissued an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Finally, BMO Capital Markets downgraded shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $214.00 to $210.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $200.56.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $1.98 during trading hours on Friday, hitting $199.54. The company had a trading volume of 1,450,600 shares, compared to its average volume of 1,320,784. The firm has a market cap of $43.36 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The business has a fifty day simple moving average of $195.53 and a 200-day simple moving average of $191.37.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.